Victorian Government joins SMF to save businesses thousands on energy

More Victorian small to medium enterprises (SMEs) will soon know how to access low-cost finance and independent, expert advice, to cut costs on power bills and install rooftop solar, through a new collaborative agreement between the Victorian Government and Sustainable Melbourne Fund.

The Victorian Government announced the collaboration with Sustainable Melbourne Fund on Friday May 26th. It is designed to boost the number of businesses that know about – and take up – Environmental Upgrade Finance, by raising awareness across Victoria.

Minister for Energy, Environment and Climate Change, Lily D’Ambrosio, launched the new agreement on-site at manufacturer Class Plastics – a business set to save $100,000 each year on electricity bills after financing solar panels through Environmental Upgrade Finance.

Currently, 14 Victorian councils offer Environmental Upgrade Finance, with a total of 20 projects expected by June. These projects are saving businesses close to $1 million each year, while reducing emissions by over 8,500 tonnes of CO2 each year.

With this collaboration, expansion of the market has the potential for 50,000 buildings to implement energy efficiency measures, generating over 835,000 kilowatt hours of renewable energy.

“With support to build better awareness of Environmental Upgrade Finance, more businesses can boost their profits, reduce power bills and deliver capital growth,” said CEO of Sustainable Melbourne Fund, Scott Bocskay.